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How does it work when universities receive earned scholarship money instead of the student?

I've noticed that sometimes when applying for scholarships, they specify that the money will be sent to the university. How does that work and how will I access it?

#college #scholarship #money

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Thank you comment icon Depends. You should have a financial aid page after getting accepted and submitting a deposit. If you earn less than $8k in outside scholarships it should not affect you since it deducts your loans. More than your EFC number will start getting funky . Yea , I got all my need-base deducted... like reporting $1k took away $1k... Wish i could of got a direct check, just write that you hope you will support my education instead of subsidizing institution grants... PS you should check this out if you are actively looking for scholarships https://www.goingmerry.com/c/caitlinp-l0dy (help a student and use this for free shirt referral after signing up) Caitlin
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Megan’s Answer

Hi Mikala.

Generally scholarship funds are distributed in two scenarios, either they 1) give you a check/deposit or 2) they send the funds directly to the school.

In scenario 1 - you receive the funds directly and can use them towards books/tuition/housing to your discretion. You may have to submit a receipt to the scholarship giver to verify the funds were used appropriately according to the guidelines of the scholarship.

In scenario 2 - the funds will be sent directly to the college to be used in your name. I received a scholarship that worked this way, and it required I submit my name and student ID# to the scholarship giver so that the funds would be transferred to my university in my name. The applicable amount was then applied to my student account, and the amount I owed for that semester/year appropriately decreased. Essentially, the goal is to eliminate a middle-man, and ensure the funds go directly towards your tuition.

Megan recommends the following next steps:

If you have already awarded the scholarship, you can reach out to the administrator and ask what information they need from you to ensure the school receives the funds.
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Terri’s Answer

Typically the university will apply the scholarship funds to your outstanding tuition bill (and sometimes to your other costs such as room & board, depending on the scholarship). If your scholarships exceed your bill, you might also get a refund from the university of the “overpayment”.
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